Loan Comparison: 3.02% vs 6.5%
7455 Walker, Colorado Springs, CO 80908 · 5bd/4ba · $1,005,000
List Price
$1,005,000
Assumable Rate
3.02%
Remaining Balance
$428,335
Equity Gap
$663,795
Loan Type
VAAdjust Your Scenario
$50,250
$50,250$663,795
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 6.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,035/moAssumable @ 3.02% + gap loan
$6,528/moAssumed loan: $1,811/mo
Gap financing: $4,718/mo
Your Savings on This Property
7455 Walker, Colorado Springs · 3.02% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($663,795) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($50,250, 5% of purchase price) and a second mortgage for the rest ($613,545 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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